The report shows that renewables expanded by 7.6% last year with Asia dominating growth and accounting for 54% of total additions.

"While expansion of renewables slowed last year, total renewable power growth outpaced fossil fuel growth by a factor of 2.6, continuing the dominance of renewables in power expansion first established in 2012. Solar and wind contributed 90% of total renewable capacity added in 2019," the report said.

IRENA Director-General Francesco La Camera was quoted as saying in the report that “renewable energy is a cost-effective source of new power that insulates power markets and consumers from volatility, supports economic stability and stimulates sustainable growth.”

"With renewable additions providing the majority of new capacity last year, it is clear that many countries and regions recognize the degree to which the energy transition can deliver positive outcomes," he added.

- Solar and Wind

According to the report, solar energy added 98 gigawatts (GW) in 2019, 60% of which was in Asia.

In addition, wind energy expanded by close to 60 GW led by growth in China (26 GW) and the United States (9 GW).

"The two technologies now generate 623 GW and 586 GW respectively – close to half of global renewable capacity. Hydropower, bioenergy, geothermal and marine energy displayed modest year on year expansion of 12 GW, 6 GW, 700 MW and 500 MW respectively," the report highlighted.